MOCON, Inc. has finalized an agreement to acquire Denmark-based company PBI-Dansensor.
The deal comes following an announcement made in early March when MOCON revealed its intention to acquire PBI-Dansensor.
MOCON acquired 100 percent of the equity interests of PBI-Dansensor for approximately $20 million. Two-thirds of that amount has been paid for in cash at closing and the remainder will be paid over four years, pursuant to a seller note.
MOCON Chairman, President and CEO Robert L Demorest said of the deal’s conclusion, “PBI-Dansensor is a company that we have been interested in for a long time.”
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